homevideos Newsmarket Newscommodities NewsCopper, zinc, aluminium rebound as US treasury yields decline and dollar index slips
Copper, zinc, aluminium rebound as US treasury yields decline and dollar index slips
Copper prices gained 1.5 percent overnight, zinc was up 2 percent, aluminium 2.5 percent on the higher side and many of these metal prices are still holding those gains.
Copper prices gained 1.5 percent, zinc was up 2 percent, and aluminium was up 2.5 percent overnight and many of these metal prices are still holding those gains.
The major reason has been the US treasury yields, which have declined. The US dollar index is off its 20-year high as well, trading below 105 right now, and that leads to other currency holders being able to buy commodities in a better fashion there.
Also Read:
The Chinese data has come in better than expected as well. All the numbers that came in this week, car sales, retail sales, manufacturing, or factory activity, have been better than what the Street was anticipating. The fundamentals have been positive.
Aluminum LME stocks are at the lowest in the last 21 years.
Precious metals like gold and silver have rebounded from one-month lows that they were trading just before the US Federal Reserve’s meeting. Some buying has been seen in precious metals, and until now, it seems to be holding.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: Gurugram gears up for crucial polls amidst economic boom and civic woes
Apr 24, 2024 11:41 PM
Lok Sabha Election 2024: Crucial seats up for grabs as Rajasthan, Maharashtra, Bihar gear up for 2nd phase of polls
Apr 24, 2024 11:40 PM